Bitkraft Ventures has launched a $75 million token fund to put money into blockchain gaming and digital entertainment investments.
As reported by VentureBeat, the new fund will take a broader approach to investments, from pre-seed startups to later-stage companies.
The fund will see investments in cryptocurrency, NFTs, and equity across the blockchain space.
Bitkraft has stated that it is committed to the convergence of cryptocurrency and gaming and asserts that it will be a driving force in the emergence of “synthetic reality” – a term the company coined to explain the crossing over of digital and physical realities.
Investing in the intersection
Earlier this year Bitkraft partnered with blockchain advisory firm Delphi Digital to invest in blockchain games. Additionally, the firm hired blockchain gaming expert Piers Kicks to assist in its expansion and capabilities in this new sector.
Since the partnership, Bitkraft has led investments for mobile-focused decentralised games guild Yield Guild, raising $4 million, and Immutable, raising $60 million for its NFT platform Immutable X.
“Crypto and blockchain technology are set to influence and disrupt the games and digital entertainment space in a profound way,” said Bitkraft Ventures founding general partner Jens Hilgers.
Blockchain technology is set to influence and disrupt the games and digital entertainment space in a profound way.
“We have launched our US-based Bitkraft Token Fund I to exclusively invest in the intersection of games and blockchain at the earlier stages with the capability to invest in Tokens as an asset class.
“Our Token Fund investment team is led by Piers Kicks and empowered by a strong strategic partnership with Delphi Digital.
“With six investments already closed including Yield Guild and Immutable, we look to invest in about 25 more companies with this Fund by the end of 2022.”
Outside of the blockchain space, Bitkraft recently led a seed funding round for a new LA-based indie game development studio, FuzzyBot, that will develop co-op games starting with a focus on the Nintendo Switch.
